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The Ministry of Statistics and Programme Implementation (Mospi) has released a discussion paper seeking feedback on the methodology for the substitution of factories in the compilation of the new Index of Industrial Production (IIP) series, which may be launched next year. Suggestions can be sent by November 25.
In the present series of IIP, the index is compiled based on data received from a fixed panel of factories selected in the base year to represent industrial activity across various sectors. As the industrial landscape evolves, some of the factories in the existing sample may become non-operational or diversify/change their production profile, thereby necessitating their substitution.
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